By 2035, the ‘great fuel switch’ will mark the end of the age of oil and gas, analysts expect

A wind farm near Freiwalde, Germany. CREDIT: Sean Gallup/Getty Images Close to 20 percent of global power needs will be met by solar or wind energy by 2035, marking a shift from the age of oil and gas to the age of renewables, according to a new report from researchers at the consultancy Wood Mackenzie. The growing focus on sustainability in many parts of the world, the report says, “is almost akin to a gravitational force, pulling things in one direction and driving the ‘great fuel switch,’ leaving little possibility for a reversal.” Energy transitions, similar to the ongoing shift to renewables, are nothing new, Wood Mackenzie researchers write in the report released Wednesday, entitled “Thinking Global Energy Transitions: The What, If, How and When.” The current hydrocarbon-based economy has itself evolved out of many previous energy transitions, from the age of biomass to the age of coal, and, ultimately, to that of oil and gas. Each of these was different, but all took at least 30 to 50 years to unfold, the report says. Technological advancements in the renewable energy industry, coupled with the growth of energy storage and the growth of electric vehicles, are driving the “large-scale […]

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